Page 2 - Essar Group

Essar plans to make Saudi Arabia regional hub to drive expansion locally

Saudi Arabia has been trying to shift its economy away from oil and is aiming to manufacture more than 300,000 cars annually by 2030

Black Box targets $1 bn revenue by next fiscal, buoyed by rising demand

On Wednesday, shares of Black Box closed at Rs 204, giving the company a total valuation of Rs 3,427 crore

Essar, Desert Tech sign pact for green steel solutions in Saudi Arabia

Essar has been tying up the back end for its proposed Saudi steel plant, which is expected to start production in 2027

Essar signs deal with Vale to get raw material supply for Saudi steel plant

Complete raw material supply of iron ore feed for project secured, says Indian firm

Bahrain Steel inks pact with KSA Green to supply iron ore to GSA project

Bahrain-based firm Foulath arm Bahrain Steel has collaborated with Essar Group's KSA Green Steel Project for supply of iron ore pellet to Green Steel Arabia (GSA) project. Through this partnership, the Bahrain Steel will deliver four million tonnes of DR-grade pellets per annum (mtpa) to Essar Group, a statement said. The Bahrain Steel is the only (Gulf Cooperation Council) GCC-owned pellet producer and leading supplier of high-quality DR grade pellets to all integrated steel producers in the region, it stated. "Foulath Subsidiary, Bahrain Steel, a leading producer, and global supplier of high-grade iron-ore pellets, has partnered with multinational conglomerate Essar Group in the supply of iron ore pellets to the Green Steel Arabia (GSA) project. The Letter of Intent (LOI) signing ceremony was held on Wednesday, 16th August 2023, in Jubail, Saudi Arabia. Dilip George, Group CEO of Foulath Holding, said in the statement,"Bahrain Steel's LOI with Essar for the supply of 4 million .

UK clears Essar's $2.4 bn energy transition project helping carbon economy

Vertex Hydrogen project will support UK government's net zero ambitions, says company

TMS Ep384: Essar group, free trade agreement, metal stocks, generative AI

How can Essar regain its lost glory? Has India benefitted from its FTAs? Is it time to bet on metal stocks as China reopens? What is generative artificial intelligence? All answers here

Essar group returns to steel business with $8-billion investment

Setting up steel plant in Saudi, an iron pellet plant each in Odisha, US

Essar Group bets $3.6 billion on decarbonisation in India and UK

Will invest $1.2 bn to develop a global supply hub for low-carbon fuels

Setting up green ammonia plant in India: Essar group's Prashant Ruia

"The project will be funded through both debt and equity and we will approach banks in India and abroad for debt"

Essar Group plans $4.9 billion petrochemical complex in Odisha

India's Essar Group plans to set up a 400 billion rupee ($4.92 billion) petrochemical complex in the eastern state of Odisha in a tie-up with a global player, it said in a statement on Thursday

EPTL, EPL conclude $2.05 bn transaction of port & power assets with AM/NS

In order to complete its asset monetisation drive to effectively become debt free, Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) on Monday concluded the $2.05 billion (Rs 16,500 crore) sale of captive ports and power assets located in Hazira and Paradip to Arcelor Mittal Nippon Steel India Ltd (AM/NS).

AM/NS India completes Rs 16,500 cr acquisition of Essar group infra assets

The transaction, fully funded by AM/NS India, includes two port assets and a power plant which are now wholly-owned and operated by it

AM/NS India eyes $250-300 mn gain from purchase of Essar group infra assets

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

CCI clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel

The Competition Commission of India on Thursday approved acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Ltd.

Essar to invest $4 bn in steel plant in Saudi Arabia in 3 years: Official

The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said. The plant, which will cost Saudi Riyal 15 billion (USD 4 billion), is scheduled to break ground by this year-end and be completed by the end of 2025, said Amar Kapadia, general manager for corporate planning at Essar. The new 4-million tonnes per annum integrated flat steelworks plant will have continuous casting and hot strip capacity, 1-million tonnes of cold rolled coil capacity, and a tin plate line in Ras Al-Khair Industrial City on Saudi Arabia's east coast. The new facility will also have two direct reduced iron plants, each with a 2.5-million tonnes a year capacity. Essar signed a memorandum of understanding with the Saudi Arabia's National Industrial Development Centre (NIDC) in October 2021, and an agreement with the Royal Commission for Jubail and Yanbu (RCJY) for land allocation in December. "We ha

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AM/NS India to acquire infra assets from Essar Group for $2.4 billion

The ownership of port assets had been in courts since 2020 after AM/NS India moved the Gujarat High Court

Battered by three decades of controversy, TMB looks back to the future

The storied bank hopes to put its troubles behind it with its impending IPO

Essar, Progressive Energy to set up $1.3 billion hydrogen hub in UK

The joint venture, Vertex Hydrogen, will produce 1 gigawatt (GW) of hydrogen per year from two units from 2026, Essar said